Possible Trade Deal Lifts Clouds Overhead

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as possible trade deal lifts clouds overhead. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Stocks set to rise on hopes the US and China are close to a trade deal

U.S. stock futures climbed Wednesday on optimism over U.S.-China trade talks. As of 02:45 a.m. ET, Dow futures were 100 points higher, indicating a positive open of 67 points. S&P 500 and Nasdaq futures also rose. American and Chinese officials are reportedly closing in on a trade deal, having resolved most of the outstanding issues in their protracted trade dispute.

The S&P 500 (SPY) inched up +0.21% today. Sector decliners led advancers 6 to 5 as shown below in the sector graph. Consumer staples (XLP), energy (XLE), healthcare (XLV), industrials (XLI), real estate (XLRE) and utilities (XLU) each suffered minor losses of less than 1%. Materials (XLB) led advancers with a +1.31% gain. Communication services (XLC), consumer discretionary (XLY), financials (XLF) and technology (XLK) each enjoyed small gains of less than 1%.

The Dow Jones index advanced +39 points (+0.15%) to close at 26,218. The Nasdaq added +46 points (+0.60%) to settle at 7,895.

Possible Trade Deal Lifts Clouds Overhead

Stocks had minimal gains on Wednesday as news came out the US and China are close to a new trade deal. Weaker numbers on payrolls and the service economy prevented a rally. The US and China have reportedly resolved most of the outstanding issues regarding a new trade deal. The ISM non manufacturing index dropped to its lowest reading since 2017, more evidence of a slowing economy. ADP private payrolls added +129,000 jobs in March versus an estimate of +173,000. The government’s monthly jobs report comes out on Friday. ┬áSome believe that a new US China trade deal is already baked into the market, however a new deal is definitely a win for the US and global economy.

Key Takeaways…

I took the following CNBC screenshots this morning regarding a 10 year treasury/S&P 500 comparison and global rally:

Possible Trade Deal Lifts Clouds Overhead

Possible Trade Deal Lifts Clouds Overhead

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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4/3/19

S&P 500 Sector Graph

Possible Trade Deal Lifts Clouds Overhead

S&P 500 (SPY)

Possible Trade Deal Lifts Clouds Overhead

Communication Services (XLC)

Possible Trade Deal Lifts Clouds Overhead

Consumer Discretionary (XLY)

Possible Trade Deal Lifts Clouds Overhead

Consumer Staples (XLP)

Possible Trade Deal Lifts Clouds Overhead

Energy (XLE)

Possible Trade Deal Lifts Clouds Overhead

Financials (XLF)

Possible Trade Deal Lifts Clouds Overhead

Real Estate (XLRE)

Possible Trade Deal Lifts Clouds Overhead

Healthcare (XLV)

Possible Trade Deal Lifts Clouds Overhead

Industrials (XLI)

Possible Trade Deal Lifts Clouds Overhead

Materials (XLB)

Possible Trade Deal Lifts Clouds Overhead

Technology (XLK)

Possible Trade Deal Lifts Clouds Overhead

Utilities (XLU)

Possible Trade Deal Lifts Clouds Overhead

S&P 500 Sector Heat Map

Possible Trade Deal Lifts Clouds Overhead

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